Reps. Steve Womack (R-Ark.) and Jim Himes (D-Conn.) introduced a bill that would extend to savings and loan holding companies the JOBS Act’s provisions that raised the SEC’s shareholder registration and deregistration thresholds.
The JOBS Act, among other things, raised the shareholder threshold for SEC registration from 500 to 2,000 for banks and bank holding companies, and also raised the deregistration threshold from 300 to 1,200.
Unfortunately, the act did not explicitly extend the thresholds to savings and loan holding companies, even though it was not Congress’ intent to treat those institutions differently from banks and bank holding companies, the lawmakers explained. The legislation would correct that oversight.